Get your taxes done using TurboTax
No, do not wait. Enter all of your W-2 forms into your return. Use the IRS letter 6419, to enter the correct amount of advance child tax credit (ACTC) you received. The child tax credit (CTC) is refundable this year, but it may not show up the way you expect it to once the advance has been calculated in.
The following total amount is what is allowed for each child based on age, and the advance was expected to be no more than half of what would be allowed on the tax return for 2021.
- $3,600 per qualifying child under 6
- $3,000 per qualifying child age 6–17
The IRS will know the combined amount and will have a structure in place to identify it. You can allocate to each of you based on what you would have received for your own children. It is not yet clear, because they have not had time to post exactly how they want a situation like yours to be handled.
You can Preview My 1040 (TurboTax Online) or Select Forms (TurboTax CD/Download), for the latter check Form 8812.
For TurboTax Online use the steps below.
- Open or continue your return.
- With the Tax Tools menu open, you can then:
- View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.
- Scroll to line 28 (see below)
